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Philippine Deposit Insurance Corporation (PDIC)

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Philippine Deposit Insurance Corporation (PDIC)

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Questions and Answers

What is the role of PDIC in relation to closed banks?

To control, manage, and administer the affairs of closed banks (correct)

To audit the financial statements of closed banks

To provide financial assistance to closed banks

To regulate the interest rates of closed banks

What is the primary responsibility of PDIC regarding closed banks?

To facilitate the merger of closed banks

To engage in investment activities for closed banks

To safeguard the assets of closed banks' depositors (correct)

To market the services of closed banks

What authority does PDIC have over closed banks?

Supervision of daily operations

Issuance of new stocks

Control, management, and administration of affairs (correct)

Setting interest rates

What distinguishes PDIC's role in relation to closed banks?

<p>Guaranteeing deposits of closed banks' depositors</p> Signup and view all the answers

Study Notes

PDIC and Closed Banks

The Philippine Deposit Insurance Corporation (PDIC) handles the resolution of closed banks
PDIC's primary responsibility is to protect depositors by insuring their deposits up to a certain amount.
PDIC has the authority to take over or liquidate closed banks to recover deposits and pay depositors.
PDIC's role is distinctive as it acts as a receiver and liquidator of closed banks, ensuring that depositors receive their insured deposits, and facilitating an orderly closure process.

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Description

Test your knowledge about the roles and responsibilities of the Philippine Deposit Insurance Corporation (PDIC) as a receiver and liquidator of closed banks. Learn about its control, management, and administration of bank affairs.